whether all the income of society registered as marketing society are exempt???
1 income like interest from co op banks
2 income or commission gained from selling items to poor like wheat rice
3. income from selling empty bags of wheat and rice
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Income of PDS (marketing society)
Replies (1)
1. It is exempt u/s. 80(p) of the act.
Sec. 80P deduction is available only to primary agricultural credit society or primary co-operative agricultural and rural development bank.
2. & 3 Both Taxable provided over & above basic exemption limit...
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